#Bookkeeping

AR (Accounts Receivable)

AR handles the Order to Cash process, which is related to areas such as: invoicing, receivables or purchases

Order to Cash means standardization, automatization, and optimization of logistics process taking place in the delivery chain, from placing order to making payment, while eliminating traditional, paper documents. O2C/OtC allows any company to avoid numerous problems related to errors in circulation of information, i.e. losing or misplacing orders placed by clients, wasting time on manual sorting and filling-in of orders, slowing-down of the process of issuing invoices, which results in delays in the so-called cash flow, that is flow of money in business to business (B2B) relations

The scope of service

Invoicing, including making adjustments to data on invoices, issuing and sending out invoices

AP handles the Procure to Pay process, which standardizes and automatizes the handling of purchase processes

Thanks to P2P every company might avoid the following risks: lack of integration and cooperation with sales department and suppliers, errors related to placing orders in purchase-tender process and too long payment periods

Reporting, which involves preparation of consolidation package for periodic consolidated financial reports in compliance with MSR/MSSF and handling of audit, reporting to central domestic statistics offices and domestic central banks

Participation in closing of accounting periods

Assuring the cohesion of data from the general ledger and sub-ledgers as well as the journal

Coordinating balance accounts

Posting remunerations, accruals and prepayments and reserves

Interpreting legal regulations

Day to day familiarization with balance sheet law and tax law

Preparing requests for individual interpretations

TAX

Involves a number of tax groups / tax matters, i.e. indirect taxes (VAT, excise tax) and direct taxes (CIT) as well as processes related to policy and keeping documentation of transfer prices

The scope of service

Preparing tax declarations, and in case of indirect taxes establishing the sales and purchases value into bookkeeping accounts and tax registries

Preparing Intrastat declarations

In case of transfer prices: collecting information from other departments and preparing transfer prices documentation in accordance with tax regulations applying in a particular country and internal regulations of the given group of companies

In case of direct taxes: preparing tax declarations in accordance with current regulations, while taking into account internal guidelines for tax planning

Current advising on tax-related matters

Preparing requests for issuing of individual interpretations

Cooperation with the IT department in the process of adapting the IT system to changes resulting from new regulations

Cooperation with local controlling bodies checking the correctness of tax settlements